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> That seems to translate to "workers were getting paid less and their savings were devalued" to me. Am I mistaken? Sure, that's one way to look at it. But the
by unmole 5y ago
> That seems to translate to "workers were getting paid less and their savings were devalued" to me. Am I mistaken?
Sure, that's one way to look at it. But then you have to ask yourself why countries deliberately try to devalue their currencies and why other countries get mad when that happens.
- falcolas 5y agoI don't know, why would workers whose compensation has been effectively cut be mad at some billionaire who did it to make more billions? This isn't just about countries as an abstract. It's about the people and the impact on them.
- unmole 5y ago> whose compensation has been effectively cut Black Wednesday happened in 1992. In 1991 inflation in the UK was 7.46%, in 1992 it dropped to 4.59% and in 1993 to 2.56%. So, who was really responsible for reducing the purchasing power of British workers? Soros or the BoE?